Sen. Tom Harkin (D-Iowa) on Wednesday questioned if the U.S. Commodity Futures Trading Commission will have the manpower to enforce legislation by Senate Agriculture Chairman Blanche Lincoln (D-Ark.) that broadens oversight of the derivatives market.
CFTC Chairman Gary Gensler told Harkin that the CBO expects the agency to hire an additional 250 staffers to enforce the bill.
Lincoln also said that revenue to the agency will likely increase to give Gensler the resources to enforce the bill.
"He's going to need more staff and he's going to need more resources to be able to do a lot of what's being asked," she said.